Bahrain Islamic Bank launches Tejoori Instant Finance
Bahrain Islamic Bank (BisB) launched the Tejoori Instant Finance service allowing customers to obtain instant finance within 5 minutes against a pledge from their Tejoori account.
Chief Retail Banking of BisB, Dalal Al Qais, said, “BisB continues to launch innovative digital services with an aim to simplify customers’ money matters, in order to provide them with a seamless digital banking experience. We are delighted to launch this new service which will enable any Tejoori account holder to take an instant finance against a pledge from their Tejoori account without profits and still be eligible to enter the raffle draws in order to get the chance to win a Tejoori prize.”
“As a front-runner in the industry with demonstrated successes in digital innovations, we also launched this service on our mobile application, BisB Digital, where customers can get instant finance on amounts ranging between BD 200 and BD 2,000, which will be credited to their Saving or Current Account in less than 5 minutes,” she added.
Customers will be required to pay upfront fees that vary between BD30 and BD70, depending on the required amount, and can choose a minimum tenor of three months up to a maximum tenor of 12 months to repay the amount with no profits. The monthly instalment will be deducted directly from the customer’s Tejoori account.
Established in 1979, BisB is a Sharia-compliant integrated financial solutions provider in the Kingdom of Bahrain. In February, the bank had announced the appointment of Jean-Christophe Durand, Yaser AlSharifi, and Dana Buheji as its new board members, following the decision of the Board of Directors in a meeting. The appointed members presently occupy key positions within the structure of the executive management of the National Bank of Bahrain (NBB).